Sales performance accelerated by commercial synergies with Croda and post-pandemic recovery in key markets

The Iberchem Group, part of Croda International Plc, today announced its financial results for the 2021 fiscal year. The fragrance and flavour manufacturer achieved a major milestone with sales surpassing €200 million. Iberchem also celebrated a further growth milestone during 2021, now with over 1,000 employees around the world.

The company’s success relied on steady organic growth supported by an increasing number of sales synergies and business opportunities resulting from its acquisition by Croda and the acquisition of Grasse-based fragrance house Parfex in 2021.

“We have seen an exciting year on many levels”, said Manuel Gonzalez, Finance Director of the Iberchem Group. “Despite a certain lack of visibility during the first half of the year due to the ongoing pandemic, we observed rapid growth over the last two quarters. Across a large portion of our portfolio, we saw increased activity in the project pipeline. Even with COVID-19 continuing to impact some emerging markets, we were able to sustain a positive financial performance aligned with our 2025 growth plan. We showed resilience and recovered in the areas of the business most affected by social distancing and travel restrictions, first in the Middle East and ultimately in Africa”.

“In terms of overall business strategy, I am extremely pleased with how things are unfolding with Croda,” said José Balibrea, Managing Director of the Iberchem Group. “Both companies are now more familiar with each other and can better align their efforts while at the same time preserving the success Iberchem’s business model has enjoyed over the last three decades. There are significant whitespaces in Western Europe and the US where Iberchem has a huge potential to grow with the benefit of Croda’s existing network and operations.

As Croda completes its transition to a pure-play Consumer Care and Life Sciences company, we are excited for the new opportunities this will bring. We are already in a joint collaboration with Croda’s botanical business unit in China and have an exciting project to be unveiled in this market, which is destined to multiply our existing production and R&D capabilities. We are extremely satisfied with the excellent work in progress in integrating Parfex into the Iberchem family. The skills and knowledge they bring in leveraging natural renewable raw materials for premium personal care and fine fragrances will play an important role in increasing our presence in the Haute Perfumery segment. Parfex is well-positioned to accelerate our sustainability ambitions and overall contribute to Croda’s objective to become Climate, Land and People Positive.”